Anson Resources (ASN) Q2 2025 TU earnings summary

Executive summary

• Received BLM approval for western expansion drilling at Paradox Lithium Project, aiming to expand JORC Mineral Resource estimate.

• Successfully tested chemical-free iron removal process at Green River Lithium Project, reducing costs and environmental impact.

• Declared maiden JORC Inferred Mineral Resource at Ajana Project: 103,000 tonnes @ 2.7% Pb, 0.45% Zn, 1.3g/t Ag.

• Secured approvals to drill 24 holes at Yellow Cat Uranium/Vanadium Project to establish a JORC resource.

• Raised $2.3 million via oversubscribed Share Purchase Plan; ended quarter with $7.4 million cash.

Financial highlights

• Net cash used in operating activities for the quarter: $2.48 million; for six months: $7.48 million.

• Administration and corporate costs for the quarter: $0.9 million; exploration and evaluation: $0.4 million.

• Cash and cash equivalents at quarter end: $7.43 million.

• Aggregate payments to related parties: $509,000 for the quarter.

Capital allocation and financing

• Raised $2.25 million from equity securities during the quarter; net cash from financing activities: $2.12 million.

• $30 million equity placement facility available, undrawn at quarter end.

• Estimated 15.09 quarters of funding available based on current cash and outgoings.